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Those what-ifs could further roil gas and oil prices. But if there’s further conflict, he said, “you’d see a much higher premium for oil prices. If there’s a de-escalation of tensions between Israel and Iran, they said, oil prices should come down over the next few weeks. But if there’s an escalation in conflict, they expect that oil prices could jump to more than $100 per barrel, they wrote in a note Monday. Retail sales rose 0.7% in March from the prior month, a slower pace than February’s upwardly revised 0.9% gain, the Commerce Department reported Monday.
Persons: New York CNN —, JPMorgan Chase, Jamie Dimon, ” Dimon, Jerome Powell, We’ll, Christine Lagarde, Andrew Bailey, Dave Sekera, Israel doesn’t, , , Moody’s, there’s, Chris Isidore, Pete Muntean, Sam Salehpour, Read, Bryan Mena, Claire Tassin Organizations: CNN Business, Bell, New York CNN, Dow, JPMorgan, International Monetary Fund, IMF, Bank, Bank of Canada, Seven, European Central Bank, Bank of England, Morningstar, Nvidia, AMD, Wall Street Journal, Federal Reserve Bank of New, Boeing, Federal Aviation Administration, Alaska Airlines, Commerce Department, Morning, Amazon Locations: New York, Russia, Ukraine, China, United States, Washington ,, Iran, Israel, Federal Reserve Bank of New York
Market chaos could come next year if the US doesn't adjust its fiscal path, Joao Gomes told CNBC. The US can't afford to extend tax cuts next year, he said. If it doesn't adjust its fiscal trajectory soon, 2025 could be the year when markets start to roil, Wharton professor Joao Gomes warned. "That's something that could definitely happen to us next year," Gomes told CNBC on Thursday. "I think we'll have a serious debate next year about the tax cuts and whether to extend them or not," he said.
Persons: Joao Gomes, Wharton, , It's, Gomes, Maya MacGuineas, Gomes isn't, Jamie Dimon, Ken Griffin Organizations: CNBC, US, Service, Bank of America, Penn Wharton Budget Model, Trump Administration, White House, Federal, Wall Locations: roil
As Iran prepares for a parliamentary election on Friday, calls to boycott the vote are turning it into a test of legitimacy for the ruling clerics amid widespread discontent and anger at the government. While it normally operates behind the scenes, the assembly has the all-important task of choosing a successor to the current, 84-year-old supreme leader, Ayatollah Ali Khamenei, who has ruled Iran for more than three decades. Iran’s leaders view turnout at the polls as a projection of their strength and power. But a robust vote appears unlikely with these elections taking place amid a slew of domestic challenges and a regional war stemming from Israel’s invasion of Gaza that has come to include Iran’s network of proxy militias. Analysts say Iranians have also lost confidence in elections after repeatedly voting for reformist lawmakers and presidents who pledged changes in foreign and economic policy and more individual rights that mostly failed to materialize.
Persons: Ayatollah Ali Khamenei Organizations: Experts, Analysts Locations: Iran, Gaza
Mexico City CNN —Alejandro Gomez has been without proper running water for more than three months. Historic lowsDensely populated Mexico City stretches out across a high-altitude lake bed, around 7,300 feet above sea level. The Cutzamala water system, a network of reservoirs, pumping stations, canals and tunnels, supplies about 25% of the water used by the Valley of Mexico, which includes Mexico City. She and her family often have to pay more than $100 for a tank of water from one of the city’s water trucks. “I don’t think anyone is prepared.”CNN’s Laura Paddison and Jack Guy reported from London, and Fidel Gutiérrez reported from Mexico City.
Persons: Mexico City CNN — Alejandro Gomez, Gomez, , Christian Domínguez Sarmiento, Jose Alfredo Ramirez, Cesar Rodriguez, it’s, It’s, Fabiola Sosa, ” Germán Arturo Martínez Santoyo, Raquel Cunha, Garcia, Becerra, La Niña, El Niño, UNAM’s Sarmiento, Conagua, Andrés Manuel López Obrador, Martí Batres Guadarrama, Sosa, Rodríguez, , Henry Romero, Márquez, doesn’t, , ” Sosa, Amanda Martínez, Laura Paddison, Jack Guy, Fidel Gutiérrez Organizations: Mexico City CNN, CNN, Authorities, National Autonomous University of Mexico, Bloomberg, Getty, Metropolitan Autonomous University, Reuters, University of Northern, Local, Mexico City’s, Cape Town, Advisory, Mexico City Locations: Mexico, Mexico City’s Tlalpan, doesn’t, Mexico City, UNAM, Tenochtitlan, Spanish, Conagua, Cutzamala, Villa, Villa Victoria, University of Northern British Columbia, Iztapalapa, South Africa, Tlalpan, London
New Freighters Could Ease Red Sea Cargo Disruptions
  + stars: | 2024-02-22 | by ( Peter Eavis | ) www.nytimes.com   time to read: +1 min
After the Houthi militia started attacking container ships in the Red Sea last year, the cost of shipping goods from Asia soared by over 300 percent, prompting fears that supply chain disruptions might once again roil the global economy. The Houthis, who are backed by Iran and control northern Yemen, continue to threaten ships, forcing many to take a much longer route around Africa’s southern tip. One reason for the optimism is that a huge number of container ships, ordered two to three years ago, are entering service. Those extra vessels are expected to help shipping companies maintain regular service as their ships travel longer distances. The companies ordered the ships when the extraordinary surge in world trade that occurred during the pandemic created enormous demand for their services.
Persons: , Brian Whitlock Organizations: Gartner Locations: Red, Asia, Iran, Yemen
CNBC Daily Open: Banking troubles again roil markets
  + stars: | 2024-02-08 | by ( Sumathi Bala | ) www.cnbc.com   time to read: +2 min
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Nikkei ralliesAsia markets mostly rose Thursday, while Japan's Nikkei led gains and hit fresh 34-year highs. Russian oilIndia's energy minister claimed "the world is grateful to India for buying Russian oil," adding the move keeps global crude prices affordable. The country's refiners have been snapping up discounted Russian oil since Moscow's invasion of Ukraine in February 2022.
Persons: China's, VCs, Son's SoftBank, David Gibson Organizations: New York Community Bank, CNBC, Nikkei, Japan's Nikkei, Nasdaq, Dow Jones, Nintendo Analysts, Nintendo Locations: Hicksville , New York, Asia, India, Ukraine
Carvana over the last 18 months aggressively restructured its operations and debt amid bankruptcy concerns to pivot from growth to cost-cutting. Carvana puts each vehicle it intends to sell through a lengthy inspection, repair and sale preparation process. A Ford F-150 is prepped for a painting booth at Carvana's vehicle reconditing center outside Phoenix. The Wall Street Journal in December 2021 detailed a network of Garcia companies that do business with DriveTime, Carvana or both. Carvana sells such warranties or other service-related protections to customers, and DriveTime takes them over, giving Carvana a commission.
Persons: Michael Wayland, Ernie Garcia III, Ernie Garcia II, Garcia, Carli, Carvana, There's, Richard, Dick, Nixon, there's, Ernie Garcia, pathing, Rajat Gupta, Doug Guan, we've, CNBC Guan, Coldplay, Neil Diamond, Teresa Aragon, DriveTime, Duckling, Garcia II, Charles Keating's Lincoln, hasn't, Organizations: CNBC PHOENIX, CNBC, Ford, Ford Motor, Nissan, State, Charles Keating's Lincoln Savings & Loan, Street Journal, DriveTime Locations: Tempe, Ariz, Tempe , Arizona, Phoenix, Carvana, Florida, reconditioning, Silicon Valley, Aragon, DriveTime, Drivetime
“It is necessary to conduct this operation unilaterally and without notifying Venezuelan officials,” reads the 15-page 2018 memo expanding “Operation Money Badger,” an investigation that authorities say targeted dozens of people, including Venezuelan President Nicolás Maduro. Within weeks, senior DEA officials plotted to deploy at least three undercover informants to surreptitiously record top officials suspected of converting Venezuela into a narco state. And “to limit or mitigate the exposure of the unilateral activities,” the document advised DEA officials to protect their informants and curtail in-person meetings with targets. I think they figured they had nothing to lose.”RELEASED BY ACCIDENTThe Operation Money Badger memo was never intended to be made public. The DEA memo authorized three informants to secretly record undercover meetings with the targets.
Persons: , , Nicolás Maduro, Maduro’s, Alex Saab, Wes Tabor, “ We’re, Maduro, , Biden, ” Maduro, Donald Trump’s, Trump, Joe Biden, ” —, Evan Criddle, William & Mary, there’s, Mike Vigil, Manny Recio, John Costanzo Jr, Costanzo, ” Michael Nadler, Washington –, launderer, Jose Vielma, Hugo Chávez, Vielma’s, Luis Motta, Vielma, Motta, Motta’s, Zach Margulis, Hugo Carvajal, Jennifer Farrar Organizations: MIAMI, The Associated Press, U.S . Drug Enforcement Administration, DEA, Justice, AP, CIA, State, Justice Department, U.S, Attorney’s, Democratic, Supreme, William &, Saab, Miami Field Division’s, IRS Locations: Venezuela, United States, U.S, America, Venezuelan, Miami, Manhattan, Russia, China, OPEC, Mexico, Virginia, , Colombian, New York, Houston, Washington, Investigative@ap.org
Several chart analysts are worried stocks are showing signs of exhaustion after their recent rally. Even there, however, we started to see some cracks last week as upside exhaustion also showed itself," Krinsky added. JC O'Hara, chief market technician at Roth MKM, wrote: "This persistence of gains is rare, and we are seeing signs that leadership is feeling exhaustion." However, when we view the chart, we find early signs of bullish exhaustion," O'Hara wrote. "From a trading basis, lethargic internal behavior suggests the bull cycle is due for a breather," Wald wrote on Saturday.
Persons: Jonathan Krinsky, Krinsky, JC O'Hara, Roth MKM, O'Hara, Rob Ginsberg, Ginsberg, SMH, that's, Oppenheimer's Ari Wald, Russell, Wald Organizations: Reserve, Microsoft, Nasdaq, Bears, Wolfe Research, VanEck Semiconductor
AOC on Sunday said that Biden could be making a stronger case for his 2024 reelection bid. Her comments come as Democrats continue to struggle with many young voters over student loans and Gaza. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Ocasio-Cortez's comments come as Democrats continue to struggle with many young voters ahead of November, with a major reason being the Biden administration's response to the Israel-Hamas war. Scores of young voters have called for a cease-fire in Gaza, a proposition that's been rejected by many top Democratic leaders.
Persons: Biden, , Alexandria Ocasio, Cortez, Joe Biden, Donald Trump, that's, Nancy Pelosi, Pelosi, Vladimir Putin Organizations: New, NBC News, Service, White, Democratic, Press, New York Democrat, Gaza Health Ministry, Sunday, FBI, CNN, Islamic Locations: Gaza, Alexandria, Israel, California, Russia
California poultry farms are implementing strict biosecurity measures to curb the spread of the disease. So we’ve got to be as vigilant as possible to protect our birds,” said Bill Mattos, president of the California Poultry Federation. Climate change is increasing the risk of outbreaks as changing weather patterns disrupt the migratory patterns of wild birds, Pitesky said. For example, exceptional rainfall last year created new waterfowl habitat throughout California, including areas close to poultry farms. “I’m very concerned because this avian flu is transmitted by wild birds, and there’s no way I can stop the wild birds from coming through and leaving the disease behind,” Peterson said.
Persons: Mike Weber, , , Weber, Annette Jones, we’ve, Bill Mattos, Maurice Pitesky, Pitesky, Rodrigo Gallardo, Gallardo, Ettamarie Peterson, I’m, ” Peterson, Weber’s, ” Weber, they’ve, “ We’re Organizations: , Sunrise, California Poultry Federation, San Francisco Bay Area, U.S . Department of Agriculture, University of California, USDA . Industry, UC Davis Locations: PETALUMA, Calif, Sonoma County, San Francisco, Petaluma, California, Midwest, Merced County, Central California, San Francisco Bay, U.S, Turkey, Australia, Davis, North Coast, Central Valley
The Swiss government on Wednesday selected Stefan Walter, a 59-year-old German national who was director-general of the European Central Bank for the last decade, to head the Swiss financial authority known as FINMA. Swiss authorities feared the collapse of such a major lending institution could further roil global financial markets following the failure of two U.S. banks last year. The troubles at Credit Suisse threatened to unhinge Switzerland's position as a leading financial market, and the takeover left the country with only one internationally important bank: UBS. Political Cartoons View All 253 ImagesA parliamentary panel created after the government-orchestrated merger has been looking into the origins of the deal. Walter, who has a master's degree in international banking from Columbia University in New York, will start the job on April 1, the Swiss government said.
Persons: Stefan Walter, Walter, Urban Angehrn, Angehrn, Mark Branson, Marlene Amstad, ” Amstad, SRF, FINMA Organizations: GENEVA, UBS, Credit Suisse, Swiss, European Central Bank, Federal Council, Columbia University Locations: Swiss, U.S, British, New York
Political Divisions Over Conduct of War Roil Israel
  + stars: | 2024-01-19 | by ( Eric Schmitt | ) www.nytimes.com   time to read: +5 min
Mr. Netanyahu said that Israel must maintain security control “over all the territory west of the Jordan,” referring to both Gaza and the occupied West Bank, despite American views. Mr. Biden and Mr. Netanyahu have known each other for decades, and the relationship between the left-leaning president and right-leaning prime minister has long been complicated. In the two and a half months between the Oct. 7 attack and their pre-Christmas conversation, Mr. Biden and Mr. Netanyahu spoke 14 times, or roughly once every five and a half days. President Biden has made clear his strong conviction that a two-state solution is still the right path ahead. Asked about Mr. Netanyahu’s comment, Mr. Kirby said, “It’s not a phrase that we recommend using because of that context.”
Persons: Biden, Benjamin Netanyahu, John F, Kirby, Mr, that’s, Netanyahu, Jordan, , , Netanyahu’s, “ We’re, “ We’ve, Rashida Tlaib, “ It’s Organizations: Israel, Hamas, National Security Council, West Bank, Palestinian Authority, Mr, Locations: Gaza, Palestinian, United States, Israel, Iran, Jordan, Michigan
Kyiv, Ukraine CNN —Taras Ratushnyy remembers receiving a phone call from his son Roman during Ukraine’s deadly 2013 Maidan Revolution. Both his parents were previously activists and journalists; his mother Svitlana Povalyaeva, also a writer and poet, took part in the Maidan Revolution alongside her two sons. A young Roman Ratushnyy, who joined the Maidan Revolution at just 16 years old. It was the 10th anniversary of the Maidan protests; Taras had just one day at home before he returned to the battlefield. CNNFighting for a European futureThe Maidan protests were sparked by Ukraine’s then-President Viktor Yanukovych abruptly scrapping a trade deal with the European Union.
Persons: Ukraine CNN — Taras Ratushnyy, Roman, , ” Roman, Taras, blaring, Svitlana Povalyaeva, Ratushnyy, Volodymyr Zelensky, , ” Taras, Taras Ratushnyy, Ukraine’s, Viktor Yanukovych, Yanukovych –, Vladimir Putin, , , Efrem, Marci Shore, Molotov, Yanukovych, Roman –, Boris Dralyuk, I’ll, Genya Savilov Organizations: Ukraine CNN —, CNN, European Union, Supporters, Europe, Getty Locations: Kyiv, Ukraine, Kyiv’s, Europe, Russia, Crimea, Izium, Ukraine’s Kharkiv Oblast, Moscow, Independence, Russia’s, Maidan, , Ukraine’s, Sumy Oblast, Ukrainian, American, AFP
OAKLAND, Calif. (AP) — Oakland considered a resolution to call for a cease-fire in the Israel-Hamas war on Monday, potentially joining nearly a dozen other U.S. cities from Michigan to Georgia that have supported the same. The resolution before the Oakland City Council also calls for the unrestricted entry of humanitarian assistance into Gaza and a restoration of basic services, as well as “respect for international law” and the release of all hostages. A temporary cease-fire between Israel and Hamas, which Qatar helped broker, is currently in place. “It raises an interesting question on where they are getting this mandate to speak for the people in their city when nobody elected a city council person because of their stance on Middle East peace,” he said. Now, city councils are just the latest arena where intense debates over the war and the United States' support for Israel are playing out.
Persons: — Oakland, , councilmember Carroll Fife, David Glazier, Israel, “ We've, ___ Jablon, Julie Watson Organizations: OAKLAND, Oakland City, Loyola Law School, Jewish Community Relations Council, Oakland, Zionist, Israel, California Democratic Party, Health Ministry, Associated Press Locations: Calif, Israel, Michigan, Georgia, Gaza, , Oakland, Atlanta ; Akron , Ohio, Wilmington , Delaware, Providence , Rhode Island, Qatar, U.S, Los Angeles, Richmond, Ypsilanti, Detroit, San Francisco, United States, Southern California, Vermont, San Diego
The upheaval at Documenta is just one example of how Europe’s art world is being torn by debates about Israel and Gaza, as some institutions have moved to postpone the shows of artists who have criticized Israel. Documenta was initially staged in 1955 as the first large-scale exhibition in West Germany of the art of the European avant-garde. It was a direct response to the Degenerate Art Show, the denunciatory exhibition of modern art staged by the Nazis in Munich in 1937. Although the mural was taken down, it set off a monthslong debate in Germany’s art world about antisemitism, Palestinian activism and Germany’s relationship to formerly colonized countries. Hoskote said Documenta was one of the art world’s greatest events, partly because it had always been a forum for new ideas.
Persons: Documenta’s, — Simon Njami, Gong Yan, Kathrin, Inés Rodríguez, , , Bracha Lichtenberg Ettinger, Ranjit Hoskote, Anaïs Duplan, Ai Weiwei, ” Ai, Ai, Galerie Max Hetzler, Lisson’s, Claudia Roth, Documenta, Hoskote Organizations: Venice Biennale, Folkwang, Israel, Art Newspaper, Galerie Max, Berlin, Die Locations: Israel, Kassel, Germany, Gaza, Venice, India, Essen, Haitian, United States, B.D.S, London, Lisson, New York, Paris, West Germany, Munich, Nazi, Indonesia
The suit - against DeSantis, a 2024 Republican presidential hopeful, and several state university system officials - seeks a preliminary injunction to a state order blocking SJP from receiving school funds and using campus facilities. At least two Florida universities - the University of Florida and the University of South Florida - have SJP chapters. Brandeis University has also banned SJP indefinitely, and Columbia University and George Washington University have suspended the group. The schools have cited the national organization's support for the Hamas attack and said their campus chapters violated school policies. Brian Hauss, senior staff attorney with the ACLU Speech, Privacy and Technology project and counsel in the case, said the student plaintiffs in the state university system were victims of "guilt by association" in this case.
Persons: Eduardo Munoz, Florida's, Ron DeSantis, SJP, George Washington, Florida Chancellor Ray Rodrigues, Brian Hauss, Hauss, Israel, Gabriella Borter, Colleen Jenkins, Howard Goller Organizations: Hamas, Columbia University, REUTERS, American Civil Liberties Union, Palestinian, Justice, University of Florida, University of South, U.S, ACLU, Brandeis University, George Washington University, Columbia, State University System, Florida, Technology, Students for Justice, Thomson Locations: Israel, Palestinian, New York, U.S, Florida’s, Palestine, Florida, University of South Florida, Gaza
While GroupM always had country-level P&Ls, it previously let its individual agencies — EssenceMediaCom, Wavemaker, MSix&Partners, and Mindshare — be responsible for their own budgets. This move is the latest in Juhl's plan to make these different media agencies follow similar business practices across all of the markets in which GroupM operates. Under Juhl, GroupM centralized media delivery within a unit called Nexus and centralized all of GroupM's data and technology within a unit called Choreograph. Juhl said that despite the push to streamline its business, GroupM's individual agency brands will continue to operate as separate entities rather than a homogenous media group. WPP said last month it will reveal more details about its plans to simplify GroupM at its Capital Markets Day in January.
Persons: Christian Juhl, GroupM, Juhl, , Publicis, EssenceMediaCom, Mindshare, Kirk McDonald Organizations: Business, Ls, MSix, Partners, Groupe, Unilever, North America, WPP Locations: GroupM, China
It represents the latest case to come before the Supreme Court involving the NRA, a group closely aligned with Republicans that has opposed gun control measures and backed pivotal lawsuits that have widened U.S. gun rights. The NRA was founded in New York in 1871 and was incorporated as a non-profit in the state. At issue was whether Vullo wielded her regulatory power to coerce New York financial institutions into cutting ties with the NRA in violation of its free speech rights under the First Amendment. Circuit Court of Appeals in 2022 said those also should have been dismissed, prompting the NRA's appeal to the Supreme Court. The NRA has been engaged in an extensive legal fight with the state of New York separate from the case involving Vullo.
Persons: Maria Vullo, Vullo, Lloyd's, Andrew Cuomo, Democrat Letitia James, James, John Kruzel, Andrew Chung, Will Dunham Organizations: U.S, Supreme, National Rifle Association, New York's Department of Financial Services, NRA, Republicans, New, Democratic, U.S . Congress, Parkland, Vullo, Circuit, Democrat, Republican, Thomson Locations: New York, Parkland , Florida, London, York, United States, Manhattan, . New York, Texas, Washington
[1/5] A view of gravestones at a Jewish cemetery in the ancient city of Derbent on the Caspian Sea coast in the Caucasus region of Dagestan, Russia, November 2, 2023. With row after row of gravestones engraved with the Star of David or portraits and pictures of the dead, Derbent's Jewish cemetery gives an indication of how large this coastal city's Jewish population once was. One of a string of enclaves of so-called Mountain Jews that pepper both Russia's Caucasus and neighbouring Azerbaijan, Derbent's Jews still speak a dialect of Persian that evokes their hometown's rich history. Today there are barely 2,000 Jews still living in Dagestan, once home to 10 times that." Alexander Fedotov, who was visiting Derbent's Jewish cemetery with Zoya Solomonova, said he thought the airport riot had been planned by someone intent on spoiling ties between Russia and Israel.
Persons: Kazbek Basayev, Zoya Solomonova, Vladimir Putin, David, Derbent's, Derbent, Shneor Segal, Alexander Fedotov, Eduard Ilgiyaev, I've, I'm, Andrew Osborn, Felix Light, Daniel Wallis Organizations: REUTERS, West, Star, Reuters, Thomson Locations: Derbent, Caucasus, Dagestan, Russia, St Petersburg, Makhachkala, Tel Aviv, Gaza, Ukraine, Soviet Union, Israel, Moscow, Chechnya, Azerbaijan
A view of oil platform Emmy off the coast of Huntington Beach at dusk Thursday, October 14, 2021. Oil prices were nearly flat on Wednesday as signs of tighter U.S. supplies countered economic data that dampened the outlook for energy demand. That went against eight analysts polled by Reuters who had estimated on average that crude inventories were up by about 200,000 barrels for the week. Meantime, euro zone business activity data took a surprise downturn this month, suggesting the bloc may slip into recession, which would drag on the outlook for oil demand. Investors kept an eye on the Middle East as well, as market participants fear a widening of the conflict there could roil oil markets and disrupt supplies.
Organizations: Brent, U.S, West Texas, American Petroleum Institute, Reuters, Bank of, Investors Locations: Huntington Beach, United States, Canada, Russia, Israel, Gaza, Palestinian
Argentina Heads to the Polls in Grip of Fierce Economic Crisis
  + stars: | 2023-10-22 | by ( Oct. | At A.M. | ) www.usnews.com   time to read: +3 min
Milei, pledging to "chainsaw" the economic and political status quo, is the candidate to beat, with angry voters flocking to his tear-it-all-down message, fed up with inflation at 138% and poverty affecting over two-fifths of the population. Amid this crisis Milei has risen abruptly, pledging shock therapy to fix the economy including dollarizing, shutting the central bank, slashing the size of government drastically and privatizing state entities. Massa, current economy chief, remains in the running despite overseeing inflation hitting triple digits for the first time since 1991. He is pledging to cut the fiscal deficit, stick with the peso and defend the Peronist social welfare safety net. Pollsters see her as the most likely of the top three runners to miss out on a second round.
Persons: Argentina's, Javier Milei, Sergio Massa, Patricia Bullrich, Milei, Federico Aurelio, Donald Trump, Jair Bolsonaro, Massa, Bullrich, Nicolas Mercado, Flavia Vázquez, Pollsters, Nicolas Misculin, Adam Jourdan, Chizu Organizations: Reuters, American, Peronist Economy, International Monetary Fund Locations: Misculin BUENOS AIRES, China, Brazil, Buenos Aires
Workers load ballot boxes and voting material into a truck, ahead of the presidential election, in Buenos Aires, Argentina October 21, 2023. Milei, pledging to "chainsaw" the economic and political status quo, is the candidate to beat, with angry voters flocking to his tear-it-all-down message, fed up with inflation at 138% and poverty affecting over two-fifths of the population. Massa, current economy chief, remains in the running despite overseeing inflation hitting triple digits for the first time since 1991. He is pledging to cut the fiscal deficit, stick with the peso and defend the Peronist social welfare safety net. Pollsters see her as the most likely of the top three runners to miss out on a second round.
Persons: Mariana Nedelcu, Argentina's, Javier Milei, Sergio Massa, Patricia Bullrich, Milei, Federico Aurelio, Donald Trump, Jair Bolsonaro, Massa, Bullrich, Nicolas Mercado, Flavia Vázquez, Pollsters, Nicolas Misculin, Adam Jourdan, Chizu Organizations: REUTERS, American, Peronist Economy, International Monetary Fund, Thomson Locations: Buenos Aires, Argentina, BUENOS AIRES, China, Brazil
This remote town is also where an alleged graft and money-laundering scheme related to the El Calafate hotels owned by the Kirchner family took place. In El Calafate, architect Walter Pieroni said some properties on the edge of the main commercial center could go days without water because of poor planning. In Santa Cruz, a province of some 333,000 people, fixing things was once the role of the Kirchners. Under the Kirchners, an airport was built in El Calafate, roads were paved to the glaciers, and plots of land were distributed to locals. "But they created a model that does not work and now our children have no future in this country," said Feldman, who has lived in El Calafate since 1987.
Persons: RIO, Alicia Kirchner, Kirchner, Javier Milei, Milei, " Kirchner, Nestor Kirchner, Cristina Fernandez de Kirchner, Fernandez de Kirchner, Alberto Fernandez, Patricia Bullrich, Sergio Massa, Santa Cruz, Brian Franco, Moreno, Franco, Eugenio Quiroga, El, Walter Pieroni, Weeks, Pieroni, Guillermo Carnevale, Peronist Fernandez, Mauricio Macri, Kirchnerism, Ana, Guerrero, hadn't, We've, Danny Feldman, Feldman, Lucinda Elliott, Adam Jourdan, Daniel Wallis Organizations: Peronist, Reuters, International Monetary Fund, El, Suppliers, Thomson Locations: Argentina, Rio Gallegos, Santa Cruz, Santa, China, Brazil, El Calafate, Spain, Germany, Buenos Aires
Expectations that the Federal Reserve will keep interest rates elevated and mounting U.S. fiscal concerns are among the factors driving the move. Because the $25-trillion Treasury market is considered the bedrock of the global financial system, soaring yields on U.S. government bonds have had wide-ranging effects. "The longer we remain at higher interest rates, the more likely something is to break." Elon Musk warned that high interest rates could sap electric-vehicle demand, which knocked shares of the sector on Thursday. Reuters GraphicsThe U.S. dollar has advanced an average of about 6.4% against its G10 peers since the rise in Treasury yields accelerated in mid-July.
Persons: Brendan McDermid, Gennadiy Goldberg, Jerome Powell, Powell, Elon Musk, Tesla’s, gravitating, Athanasios Vamvakidis, Saqib Iqbal Ahmed, Ira Iosebashvili, Stephen Coates Organizations: New York Stock Exchange, REUTERS, Treasury, Federal Reserve, TD Securities, Reuters, Global Research, Reuters Graphics, ICE, Fed, Thomson Locations: New York City, U.S, New York, Treasuries
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